Nam Cheong's Offshore Services Vessels Could See Higher Demand From 2027 -- Market Talk
Dow Jones
Apr 07
0317 GMT - Nam Cheong's offshore services vessels could see higher demand from 2027 as oil prices are expected to remain high, say CGS International analysts in a note. While the segment's demand hasn't significantly changed since the onset of the Middle East conflict, the company said spending decisions by national oil companies typically have longer lead time, and any uplift is likely to come next year, the analysts note. Meanwhile, the Singapore-listed shipbuilder's fleet is largely on long-term charters, which would raise its utilization rate to around 69% in 2026 from 65% in 2025, they add. CGSI retains its add rating and S$1.92 target price. Shares rise 3.3% to S$1.57. (megan.cheah@wsj.com)
(END) Dow Jones Newswires
April 06, 2026 23:17 ET (03:17 GMT)
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